Union Bank of India, a state-owned lender, plans to sell five and a half-year dollar bonds at a spread of about 315 basis points more than similar-maturity Treasuries, according to two people familiar with the matter.

Union Bank may give guidance on bond sale

Business Standard

The Andhra Pradesh regional office of the National Bank for Agriculture and Rural Development (Nabard) on Wednesday signed a memorandum of understanding with Deccan Grameena Bank (DGB) to provide co-financing for innovative projects.

Nabard, DGB in co-financing pact

China&rsquo;s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 per cent in the hardest-hit markets, a person with knowledge of the matter said.

China said to test banks for 60% home-price drop

Expected to mop up Rs 350,000 crore for infra and other projects.

Firms may double bond issues this yr

A day after the storm, it was apparently business as usual for Reserve Bank of India Deputy Governor K C Chakrabarty. The man, who saw his role substantially reduced through a press release issued by RBI late on Tuesday night, came to his office on the first floor on time and had his usual round of meetings.

It's business as usual for Chakrabarty

Allahabad Bank is planning to expand its international operations by setting up new offices in China and Bangladesh. It would invest around $35 million (around Rs 160 crore) in the new branches.

Allahabad Bank to ramp up overseas biz

The Bank of England kept its bond-stimulus plan in place and left its benchmark interest rate at a record low as officials sustained emergency aid for the economy during the biggest budget squeeze since World War II.

BOE keeps stimulus to aid recovery in budget squeeze

The delays that characterised appointment of public sector banks chiefs are back. Reason: Changes in rules proposed by the finance ministry.

Top appointments in govt banks delayed despite FM's initiative

The banking sector seems to be gaining momentum, if the April-June quarter net interest income (NII) and net profit numbers of 39 listed lenders are anything to go by.

Banks log 26.5% growth in net profit

Buoyed by improving economic environment and higher investment flows, private equity (PE) companies are increasing their exposure to emerging markets.

PE firms show more interest in emerging markets

International Finance Corporation (IFC), part of World Bank, plans to take 20 per cent stake in Ananya Finance for Inclusive Growth Pvt Ltd, a wholesale microfinance institution (MFI) headquartered in Ahmedabad. IFC plans to invest around Rs 50 crore to acquire the stake.

IFC to buy 20% stake in Ananya Finance

Subbarao says inflation targeting neither desirable nor practical in India.

RBI wants central role for stability efforts Subbarao

In a sign that state-owned insurance companies are now gearing up to enhance their presence overseas through the inorganic route, The New India Assurance Co plans to acquire general insurance companies in West Indies and Africa.

New India Assurance aims to complete global buys by 2011-12

The Erode District Central Cooperative Bank Ltd has earned a profit of Rs 13.25 crore for 2009-2010 against Rs 12.05 crore made during the last fiscal, bank sources said.

Erode Dist Central Coop Bank earns Rs 13 cr profit

Press Trust of India

Bank of Baroda has decided to increase its benchmark prime lending rate (BPLR) by 50 basis points from existing 12 per cent per annum to 12.50 per cent per annum with effect from today i.e. August 06, 2010. The bank said in a BSE filing.

BoB increases BPLR by 50 bp to 12.5%

South India-based Karur Vysya Bank Ltd is targetting 26 per cent annual profit growth by adding new branches to create a pan-India presence, a top bank official has said today.

Karur Vysya Bank aims 26% growth, 15 new branches by 2011-12

Public sector lender Bank of Baroda today hiked its benchmark prime lending rate (PLR) by 50 basis points to 12.50 per cent.

BoB hikes lending rate by 50 bps to 12.5%

The government today said the banking ombudsman has received several complaints against private sector lenders including HDFC Bank and ICICI Bank of violating RBI guidelines on engagement of agents to recover loans.

ICICI, HDFC Bank violating norms on recovery agents: Govt

In see-saw trade, the Indian rupee today appreciated by a modest four paise to nearly a one-and- a-half-month high of 46.15/16 against the US dollar on persistent capital inflows.

Rupee gains 4 paise to 46.15/16 against $

The Reserve Bank of India (RBI) should give new banking licences to domestic corporates in order to achieve the government's objective of financial inclusion, said industry body Assocham.

RBI should grant bank licences to domestic firms: Assocham

Slumping into the red, American International Group (AIG) has posted a second quarter loss of $2.7 billion, due to a massive charge on its discontinued operations.

AIG slips into red, posts $2.7 bn quarterly loss

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